Economics

Final Quiz #I
Name: __________________________ Section:_________ Date: ______________SCORE: ___________
1. A life-long process, it is planned, periodically adjusted and executed with a firm hand
2. This is when at least a good portion (30-60%) of your income is being provided by your savings
and investments
3. Income that comes directly as a result of your own hard work, your skill, talent and time
4. The income that is generated by your earning assets and investments, this is income that does
not depend on your active participation in terms of time, skill or talent
5. Simply having the means to maintain the lifestyle you choose to have without having to actively
work
6. Sometimes referred to as Good Debt
7. Refer to all financial institutions other than banks engaged principally in the provision of a wide
range of financial services
8. Highest regulatory body in the financial system
9. Consists of duly licensed and registered banking entities engaged in the lending of funds
obtained in the form of deposits
10. Refer to all financial institutions other than banks engaged principally in the provision of a wide
range of financial services
11. The study and collection of money and metals
12. Money is used as the unit at which goods and services are valued in terms of a given currency
13. Money is used as a means of payment for transactions
14. Money serves as a repository of purchasing power over time
15. An imitation of a legal and genuine note intended to deceive or be taken for that which is
original, legal or genuine
16. Payment for goods and services or as repayment for debts
17. The person who studies currency

Medium of exchange / Unit of value / Store of value / Numismatic / Counterfeiting of money /

Leverage / Financial Independence / Passive Income / Active Income / Wealth generation / Asset
Allocation Stage / Bangko Sentral ng Pilipinas / Banking System / Non-Bank Financial
Institutions / Money / Numismatist
A
18. Established the first central bank in the Philippines on January 3, I949
19. Strengthened BSPs policy agenda
20. Creating an independent central monetary authority called the Bangko Sentral ng Pilipinas (BSP)
21. The law gave the Central Bank the sole authority over banks in terms of supervision and
regulation
B
a. Central Bank Act of I948 (Republic Act No. 265)
b. General Banking Act (Republic Act No. 337)
c. The New Central Bank Act (Republic Act No. 7653)
d. General Banking Law of 2000 (Republic Act No. 879I)
Types of Banks Minumum Capitalization
22. Commercial banks a. Php 4.95 Billion
23. Rural banks b. Php 2-4 Billion
24. Thrift banks c. Php 325 Million
25. Universal banks d. Php 2.6 Million